EQUINOR ASA-SPON ADR (EQNR) Fundamental Analysis & Valuation

NYSE:EQNR • US29446M1027

Current stock price

37.94 USD
-0.67 (-1.74%)
At close:
38.1 USD
+0.16 (+0.42%)
After Hours:

This EQNR fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

6

1. EQNR Profitability Analysis

1.1 Basic Checks

  • In the past year EQNR was profitable.
  • In the past year EQNR had a positive cash flow from operations.
  • EQNR had positive earnings in each of the past 5 years.
  • EQNR had a positive operating cash flow in each of the past 5 years.
EQNR Yearly Net Income VS EBIT VS OCF VS FCFEQNR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20B 40B 60B

1.2 Ratios

  • With a Return On Assets value of 3.83%, EQNR perfoms like the industry average, outperforming 54.07% of the companies in the same industry.
  • EQNR has a Return On Equity of 12.48%. This is in the better half of the industry: EQNR outperforms 69.38% of its industry peers.
  • The Return On Invested Capital of EQNR (21.37%) is better than 97.13% of its industry peers.
  • EQNR had an Average Return On Invested Capital over the past 3 years of 23.95%. This is in line with the industry average of 22.52%.
Industry RankSector Rank
ROA 3.83%
ROE 12.48%
ROIC 21.37%
ROA(3y)6.27%
ROA(5y)8.57%
ROE(3y)19.26%
ROE(5y)26.6%
ROIC(3y)23.95%
ROIC(5y)29.53%
EQNR Yearly ROA, ROE, ROICEQNR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40

1.3 Margins

  • EQNR has a Profit Margin of 4.77%. This is comparable to the rest of the industry: EQNR outperforms 46.41% of its industry peers.
  • EQNR's Profit Margin has declined in the last couple of years.
  • With a decent Operating Margin value of 25.85%, EQNR is doing good in the industry, outperforming 67.94% of the companies in the same industry.
  • EQNR's Operating Margin has improved in the last couple of years.
  • The Gross Margin of EQNR (47.87%) is comparable to the rest of the industry.
  • In the last couple of years the Gross Margin of EQNR has declined.
Industry RankSector Rank
OM 25.85%
PM (TTM) 4.77%
GM 47.87%
OM growth 3Y-19.71%
OM growth 5Y27.45%
PM growth 3Y-37.26%
PM growth 5YN/A
GM growth 3Y-9.17%
GM growth 5Y-2.43%
EQNR Yearly Profit, Operating, Gross MarginsEQNR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40 60

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5

2. EQNR Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so EQNR is creating value.
  • The number of shares outstanding for EQNR has been reduced compared to 1 year ago.
  • Compared to 5 years ago, EQNR has less shares outstanding
  • EQNR has a worse debt/assets ratio than last year.
EQNR Yearly Shares OutstandingEQNR Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B
EQNR Yearly Total Debt VS Total AssetsEQNR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50B 100B 150B

2.2 Solvency

  • An Altman-Z score of 2.69 indicates that EQNR is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • With a decent Altman-Z score value of 2.69, EQNR is doing good in the industry, outperforming 75.12% of the companies in the same industry.
  • EQNR has a debt to FCF ratio of 5.22. This is a neutral value as EQNR would need 5.22 years to pay back of all of its debts.
  • The Debt to FCF ratio of EQNR (5.22) is better than 67.94% of its industry peers.
  • A Debt/Equity ratio of 0.64 indicates that EQNR is somewhat dependend on debt financing.
  • EQNR has a Debt to Equity ratio (0.64) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.64
Debt/FCF 5.22
Altman-Z 2.69
ROIC/WACC3.1
WACC6.89%
EQNR Yearly LT Debt VS Equity VS FCFEQNR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10B 20B 30B 40B 50B

2.3 Liquidity

  • A Current Ratio of 1.24 indicates that EQNR should not have too much problems paying its short term obligations.
  • EQNR has a Current ratio of 1.24. This is comparable to the rest of the industry: EQNR outperforms 53.59% of its industry peers.
  • EQNR has a Quick Ratio of 1.13. This is a normal value and indicates that EQNR is financially healthy and should not expect problems in meeting its short term obligations.
  • With a Quick ratio value of 1.13, EQNR perfoms like the industry average, outperforming 57.89% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.24
Quick Ratio 1.13
EQNR Yearly Current Assets VS Current LiabilitesEQNR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B

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3

3. EQNR Growth Analysis

3.1 Past

  • The earnings per share for EQNR have decreased strongly by -22.98% in the last year.
  • The Earnings Per Share has been growing by 54.69% on average over the past years. This is a very strong growth
  • The Revenue has been growing slightly by 3.24% in the past year.
  • Measured over the past years, EQNR shows a quite strong growth in Revenue. The Revenue has been growing by 18.26% on average per year.
EPS 1Y (TTM)-22.98%
EPS 3Y-29.61%
EPS 5Y54.69%
EPS Q2Q%28.57%
Revenue 1Y (TTM)3.24%
Revenue growth 3Y-10.78%
Revenue growth 5Y18.26%
Sales Q2Q%-4.38%

3.2 Future

  • Based on estimates for the next years, EQNR will show a small growth in Earnings Per Share. The EPS will grow by 7.43% on average per year.
  • EQNR is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -0.98% yearly.
EPS Next Y51.82%
EPS Next 2Y17.05%
EPS Next 3Y10.09%
EPS Next 5Y7.43%
Revenue Next Year14.75%
Revenue Next 2Y2.18%
Revenue Next 3Y-0.98%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
EQNR Yearly Revenue VS EstimatesEQNR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 50B 100B 150B
EQNR Yearly EPS VS EstimatesEQNR Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 2 4 6

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7

4. EQNR Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 15.18, EQNR is valued correctly.
  • 66.03% of the companies in the same industry are more expensive than EQNR, based on the Price/Earnings ratio.
  • Compared to an average S&P500 Price/Earnings ratio of 27.42, EQNR is valued a bit cheaper.
  • With a Price/Forward Earnings ratio of 9.98, the valuation of EQNR can be described as very reasonable.
  • EQNR's Price/Forward Earnings ratio is rather cheap when compared to the industry. EQNR is cheaper than 81.34% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.29, EQNR is valued rather cheaply.
Industry RankSector Rank
PE 15.18
Fwd PE 9.98
EQNR Price Earnings VS Forward Price EarningsEQNR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, EQNR is valued cheaply inside the industry as 99.52% of the companies are valued more expensively.
  • Based on the Price/Free Cash Flow ratio, EQNR is valued a bit cheaper than the industry average as 65.07% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 15.82
EV/EBITDA 2.31
EQNR Per share dataEQNR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

  • EQNR's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • EQNR has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)0.29
PEG (5Y)0.28
EPS Next 2Y17.05%
EPS Next 3Y10.09%

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5

5. EQNR Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 4.11%, EQNR is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 3.22, EQNR pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.81, EQNR pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.11%

5.2 History

  • On average, the dividend of EQNR grows each year by 20.87%, which is quite nice.
  • EQNR has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)20.87%
Div Incr Years0
Div Non Decr Years0
EQNR Yearly Dividends per shareEQNR Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2 4 6

5.3 Sustainability

  • 94.98% of the earnings are spent on dividend by EQNR. This is not a sustainable payout ratio.
  • EQNR's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP94.98%
EPS Next 2Y17.05%
EPS Next 3Y10.09%
EQNR Yearly Income VS Free CF VS DividendEQNR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10B 20B
EQNR Dividend Payout.EQNR Dividend Payout, showing the Payout Ratio.EQNR Dividend Payout.PayoutRetained Earnings

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EQNR Fundamentals: All Metrics, Ratios and Statistics

EQUINOR ASA-SPON ADR

NYSE:EQNR (4/24/2026, 8:04:00 PM)

After market: 38.1 +0.16 (+0.42%)

37.94

-0.67 (-1.74%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-04
Earnings (Next)05-06
Inst Owners19.24%
Inst Owner Change0.18%
Ins Owners0%
Ins Owner ChangeN/A
Market Cap94.57B
Revenue(TTM)105.83B
Net Income(TTM)5.04B
Analysts50.27
Price Target35.29 (-6.98%)
Short Float %2.32%
Short Ratio2.19
Dividend
Industry RankSector Rank
Dividend Yield 4.11%
Yearly Dividend1.83
Dividend Growth(5Y)20.87%
DP94.98%
Div Incr Years0
Div Non Decr Years0
Ex-Date05-15
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-5.71%
Min EPS beat(2)-36.86%
Max EPS beat(2)25.44%
EPS beat(4)1
Avg EPS beat(4)-9.04%
Min EPS beat(4)-36.86%
Max EPS beat(4)25.44%
EPS beat(8)4
Avg EPS beat(8)-0.56%
EPS beat(12)6
Avg EPS beat(12)-1.17%
EPS beat(16)8
Avg EPS beat(16)1.03%
Revenue beat(2)2
Avg Revenue beat(2)16.68%
Min Revenue beat(2)10.59%
Max Revenue beat(2)22.78%
Revenue beat(4)4
Avg Revenue beat(4)13.25%
Min Revenue beat(4)8.5%
Max Revenue beat(4)22.78%
Revenue beat(8)6
Avg Revenue beat(8)6.03%
Revenue beat(12)7
Avg Revenue beat(12)1.98%
Revenue beat(16)10
Avg Revenue beat(16)0.83%
PT rev (1m)34%
PT rev (3m)44.72%
EPS NQ rev (1m)13.09%
EPS NQ rev (3m)35.06%
EPS NY rev (1m)39.6%
EPS NY rev (3m)35.06%
Revenue NQ rev (1m)7.73%
Revenue NQ rev (3m)33.27%
Revenue NY rev (1m)22.04%
Revenue NY rev (3m)25.87%
Valuation
Industry RankSector Rank
PE 15.18
Fwd PE 9.98
P/S 0.89
P/FCF 15.82
P/OCF 4.74
P/B 2.34
P/tB 2.74
EV/EBITDA 2.31
EPS(TTM)2.5
EY6.59%
EPS(NY)3.8
Fwd EY10.02%
FCF(TTM)2.4
FCFY6.32%
OCF(TTM)8.01
OCFY21.12%
SpS42.46
BVpS16.22
TBVpS13.83
PEG (NY)0.29
PEG (5Y)0.28
Graham Number30.203 (-20.39%)
Profitability
Industry RankSector Rank
ROA 3.83%
ROE 12.48%
ROCE 27.05%
ROIC 21.37%
ROICexc 26.42%
ROICexgc 28.5%
OM 25.85%
PM (TTM) 4.77%
GM 47.87%
FCFM 5.65%
ROA(3y)6.27%
ROA(5y)8.57%
ROE(3y)19.26%
ROE(5y)26.6%
ROIC(3y)23.95%
ROIC(5y)29.53%
ROICexc(3y)32.15%
ROICexc(5y)41.73%
ROICexgc(3y)34.7%
ROICexgc(5y)44.98%
ROCE(3y)31.38%
ROCE(5y)38.51%
ROICexgc growth 3Y-30.17%
ROICexgc growth 5Y52.47%
ROICexc growth 3Y-30.28%
ROICexc growth 5Y53.1%
OM growth 3Y-19.71%
OM growth 5Y27.45%
PM growth 3Y-37.26%
PM growth 5YN/A
GM growth 3Y-9.17%
GM growth 5Y-2.43%
F-Score5
Asset Turnover0.8
Health
Industry RankSector Rank
Debt/Equity 0.64
Debt/FCF 5.22
Debt/EBITDA 0.65
Cap/Depr 112.19%
Cap/Sales 13.22%
Interest Coverage 41.14
Cash Conversion 50.14%
Profit Quality 118.5%
Current Ratio 1.24
Quick Ratio 1.13
Altman-Z 2.69
F-Score5
WACC6.89%
ROIC/WACC3.1
Cap/Depr(3y)111.69%
Cap/Depr(5y)107.68%
Cap/Sales(3y)11.67%
Cap/Sales(5y)9.97%
Profit Quality(3y)119.49%
Profit Quality(5y)138.67%
High Growth Momentum
Growth
EPS 1Y (TTM)-22.98%
EPS 3Y-29.61%
EPS 5Y54.69%
EPS Q2Q%28.57%
EPS Next Y51.82%
EPS Next 2Y17.05%
EPS Next 3Y10.09%
EPS Next 5Y7.43%
Revenue 1Y (TTM)3.24%
Revenue growth 3Y-10.78%
Revenue growth 5Y18.26%
Sales Q2Q%-4.38%
Revenue Next Year14.75%
Revenue Next 2Y2.18%
Revenue Next 3Y-0.98%
Revenue Next 5YN/A
EBIT growth 1Y-11.04%
EBIT growth 3Y-28.36%
EBIT growth 5Y50.72%
EBIT Next Year62.28%
EBIT Next 3Y8.77%
EBIT Next 5Y3.58%
FCF growth 1Y-17.99%
FCF growth 3Y-39.15%
FCF growth 5Y25.63%
OCF growth 1Y2.6%
OCF growth 3Y-17.16%
OCF growth 5Y13.97%

EQUINOR ASA-SPON ADR / EQNR Fundamental Analysis FAQ

What is the ChartMill fundamental rating of EQUINOR ASA-SPON ADR (EQNR) stock?

ChartMill assigns a fundamental rating of 5 / 10 to EQNR.


What is the valuation status of EQUINOR ASA-SPON ADR (EQNR) stock?

ChartMill assigns a valuation rating of 7 / 10 to EQUINOR ASA-SPON ADR (EQNR). This can be considered as Undervalued.


What is the profitability of EQNR stock?

EQUINOR ASA-SPON ADR (EQNR) has a profitability rating of 6 / 10.


Can you provide the PE and PB ratios for EQNR stock?

The Price/Earnings (PE) ratio for EQUINOR ASA-SPON ADR (EQNR) is 15.18 and the Price/Book (PB) ratio is 2.34.


What is the earnings growth outlook for EQUINOR ASA-SPON ADR?

The Earnings per Share (EPS) of EQUINOR ASA-SPON ADR (EQNR) is expected to grow by 51.82% in the next year.